KAST Raises $80 Million Series A to Expand Stablecoin Payments Platform into Middle East
NEW YORK, March 9, 2026 — KAST announced $80 million in Series A funding at a $600 million valuation to expand its stablecoin payment platform across North America, Latin America, and the Middle East. The round will fund product upgrades, compliance infrastructure, and hiring to support the launch of KAST Business and meet rising demand for cross-border stablecoin efficiency.
Funding Details
QED Investors and Left Lane Capital led the round for the New York-based firm founded by former Circle executive Raagulan Pathy. The capital will support global expansion, development of stablecoin rails including USDC and USDT, and infrastructure to bridge digital assets with local payout systems in supported markets. KAST previously raised $10 million in seed funding.
Leadership Perspective
“That shift matters because moving money across borders still takes too much time, costs too much, and includes too many steps for too many people. The demand for better infrastructure is growing, and it is growing fast.”
— Raagulan Pathy, Founder at KAST
Why it matters: This statement underscores the persistent inefficiencies in traditional remittance systems that stablecoins are positioned to solve through faster settlement times and reduced transaction costs.
“We are building directly into that change. KAST connects digital dollars with local payout systems in supported markets, giving users a simpler way to move money between digital assets and traditional financial rails.”
— Raagulan Pathy, Founder at KAST
Why it matters: KAST’s infrastructure approach addresses a critical gap in both B2B and consumer cross-border flows where traditional banking systems have failed to deliver speed and cost efficiency.
Industry Context
Stablecoins are gaining momentum in mainstream payments infrastructure through partnerships such as Visa’s Bridge initiative and PayPal’s PYUSD expansion. Regulators including the Federal Reserve and European Central Bank are evaluating stablecoins’ potential efficiency gains against stability risks. The Middle East expansion targets high-volume remittance corridors and trade finance channels, positioning KAST to serve emerging fintech hubs with instant settlement capabilities for both consumer remittances and commercial transactions.
Conclusion
The Series A funding positions KAST to accelerate stablecoin adoption in mainstream financial services, with particular focus on reducing costs and settlement times for businesses operating in emerging Middle East markets and other high-volume cross-border corridors.
Sources: PYMNTS, CoinDesk, FinSMEs, PR Newswire, KAST
